2 min read
How BEC plays out
An employee gets an email that appears to come from the CEO or finance director, demanding a confidential, urgent payment or sensitive data. The pressure and secrecy are the point — they stop the employee from checking. The email may spoof or hijack a real account.
Breaking the con
Agree a rule that no urgent or unusual payment request is actioned without a verbal confirmation on a known number or in person. Remove the fear of questioning a director. Train staff that real leaders expect to be verified, not obeyed blindly.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Why do staff fall for CEO fraud?
It weaponises authority and urgency. An employee fears delaying “the boss”, so they skip verification. A clear rule that all such requests are verified removes that pressure.
How do I protect against it?
Require out-of-band confirmation for unusual payments, restrict who can move money, and make it normal to challenge urgent requests.
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